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Double-Chance Bet

The double-chance bet is a popular betting option when three possible outcomes exist for a sporting competition and the bettor doesn't want to participate in a high risk gambling game. Usually, a conventional three-way bet is the basis for this type of sportsbook, since a bettor must predict three separate final results for a double-chance bet to become valid. 2 of the 3 options will be selected for a wager.
 
Selection 1:
victory team 1 + draw
1X
Selection 2:
victory team 2 + draw
X2
Selection 3:
victory team 1 + victory team 2
12
 
The advantage of wagering on two possible results obviously is the fact that with a single bet, two possible outcomes will be covered. This allows for a comparatively low risk for the bettor, since the theoretical prospects of winning are increased.
Also, this type of bet is favourable for those sports betting fans who usually have a hard time to make up their mind. For example, if a bettor is only certain that one team definitely is not going to win, then the double chance bet is an attractive option for the remaining possibilities.
Obviously, the decreased risk for the bettor comes with a generally low level of odds. Especially for wagers on a favorite and for wagers on ties, the lines provided by bookmakers usually range on a low level.
However, if there is no clear spread of the winning prospects with regards to the competing teams, then a double chance bet certainly offers attractive winning prospects.

When to apply double-chance bets

The double-chance bet offers attractive odds if two competitors range at almost the same level of proficiency. Because with two relatively balanced teams, for example where the host team may have a sensational home record, a tip can be realized for a victory of the club with the home advantage and at the same time the possibility of a draw is locked as well.
 
Furthermore, double-chance bets are an attractive complemet to combo bets, particularly because of the generally low level of odds. Many bookmakers also offer double-chance options for live betting purposes as well. 
Nevertheless, soccer clearly is the most suitable sports category for double-chance bets, because the structure and flow of this sport provide for the perfect framework for engaging in this type of bet.